tv Forbes on FOX FOX News February 4, 2012 8:00am-8:30am PST
coming in and stealing their thuppeder. >> it is the 2000 field . not yet. >> thank you all very are very much. continue on these networks for anything new. ♪ forget pushing term limits on congress. a new company is pushing them on workers. rebel casino is making employees really every four-six years. the company will keep them hungry and now there is a fear it is a trend nationwide. i am david asbin. we'll to forbes on fox. we'll go in foxus with steve and rick and tam flee. good to have you on the what do you think of this idea. >> we are term limited.
but i like the idea. if failure is the greatest teacher, what a lot of individuals fear is success and it will make them satiied. anything that keeps them. and it a good thing. >> rich, what about this? >> a four year contribute with the workers. >> i am a huge fan of johns. it allows for no flexibility. would you make tom brady and eli manning reapply? in sales, you want quick feed back. six-12 months and rnd. fruits may pay out in 10-15 years. it takes away flexibility. >> it is flexibility that is the key to the success. you need to be flexible. >> surprisingly. it is an interesting experiment with some
conditions . it is not just term limits. nd in term limits you don't need to apply. what concerns me about the idea is that you could put a worker in danger of a benefit. no one want to find out overnight that they no longer have health benefits for their family. it is an interesting experiment. and it is important that employees and casino guests do well together. >> what does worry me. is that companies who get locked into somebody and first year they are good and trail off and become lousy. you can't fire them. >> yeah, it seems like a management gimmick that easily back fires. you are right. you have a worker who is great for the first year and loses their incentive to show up and you dangle this four-six year carrot out there and you don't
have the manage flexibility to say we need to rethink your employment here. i am surprised it would be attractive and for workers four-six years is a long time. i think you should be incentive to do a good job. there should be more trust regardless of the industry. >> i don't think it stops the hotel or casipo of firing somebody after one year or have them locked in for a 6 of had year time. i don't think that is the way it is structured. it is interesting the back lashh of the casino industry that tends to treat management like hot molten evils. i think john is right. this will put the focus on service that is a real product. and this is a new casino and new workers and it doesn't mean older workers that are there would be affected by this is a way to get people productive. >> we saved the employer for
last . teave forbes is anything but hot and molten and evil. >> if you have a good company you have annual reviews and this is not the public school system when you have tenure and college . why states of dine doin have the right to work and you have a flexibility already . question is how good is management in exercising that flexibility and what doesn't write is the military and seven years after a promotion you are out. >> what about flexibility. you understand how capitalism needs to be flexible in order to get better. doesn't this limit flexibility? >> no, it does the opposite. this is what we embrace. we look at it from the employees point of view. we feel like it is in for life and with this, they are going
to be forced to think if they are going to be moving on. if you move the employee that is human capitol to a higher valued work, they will do a better job. anything like this that is flexible, we have to embrace. >> i don't want to be a naysayer. what if it works in one place, the government will step in and say everybody has to do it now. >> yeah, it is a one-size fits all solution. >> i am perplexed why john sees this as a tool of flexibility. it is high performing company, apple. they have a designer named johnnie iv. you tell him after four-six years he needs to reapply as chief designer of apple. >> no one is guaranteed a job
for life. people work throughout all of the media. i don't see a difference here. >> look over his shoulder. and so what, this is a new world economy . this is the life we are in. even in nevada is where the hotel industry and iran and who cares. even nevada is the right to work state. >> you are right. >> and the idea reminds me of the union contracts. i don't necessarily want to get locked into. i never been a member. it is because i don't like to get in to things. >> only way i would go along with this is the government edict. let them have four or six years of the. but in terms of the workplace they have the flexibility and unions are only six or seven percent. it is all about manage term limits for congress. >> and you also, hold on,
vicki go ahead. >> the point that rich was making. what if you have a high performer. are you putting him through the point? >> who said they would. >> apply it to all employers. >> i know, rebel may not do that and rebel may let you go after one year. >> rick, go ahead. >> just, just quick ones. to our steve host. government involvement is a bit of a stretch, but secondly, look you and your employer are locked into employment contract. the other thing we don't know and this is to the discuion victoria had. we don't have the details or a situation where an employee can be fired. typically in an employment contract you can be fired if you really screw up. >> rick said that this is a
stretch to think of a nationwide program. it was a stretch to think that the government gets involved in health care. >> go ahead. you had your chance. >> i think this is the kind of thing that gives capitalism a bad name. it makes it look like it is people all the same. and bill walch bless his soul told me the greatest thing he brought to the 49ers. they treated people individually and that was a quantum leap where everybody was treated the sa . good managers will figure out how to. >> no term limits for david. >> and i am okay with that and i like the football reference on super bowl weekend. >> president obama touting autobail outs as chrysler posts a full year profit. >> and cashin' in proves how
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>> hi, everyone. we are live from america's news headquarters. it is caucaus day in maine and nevada. mitt romney holding a strong lead in the polls going in voting in nevada. he swept the silver state caucaus in 2008 and expected to get strong support from the nevada large horr mon population. secretary of state clointon and panela is over sees. europe is convinced a nuclear
armed iran pose a serious danger to the world. former army chief-of-staff will join me and talk about the next steps that the u.s. has to take facing a potential threat from iran. back to forbes on fox. keep it right here. mitt romney despite being bashed for his wealth and out of the touch. a win for romney is a win for capitalism. >> absolute gingrich and santorum were attacking romney because of profits he made in a private equity firm of bain capitol. it is an important cog in our financial system. they invested 1.1 billion of investor's money and had 2.5 billion in profits.
they are good. >> rich, you can't have capitalism without bain capitol and that was right in the mix. >> no one is arguing that. but you know mitt's comback in florida prove if you outspend gingrich 5-1 and get newt out of his game, you can beat him. big referendum on capitalism. and whether it is mitt or anybody else. they have to come up with better arguments than they came up to defend free enterprise. >> steve, if mitt wins in nevada is that good for capitalism. >> i would say yes. you are starting to defend capitalism and their career. he said he was going to raise minimum wage. i would send them free of charge a book i co-authored
how capitalism and free people and free markets are the way to save america. >> boy, after that. vict toria what do you think? >> yeah, that impressive, steve. i agree with rich, the real revundum come in november . he has to defend his tract record. most americans are skeptical of lbo's. they have reputation for coming in the companis and letting workers go. that is not a popular career to have h. he needs to defend it and sell us. >> rick. what do you think? >> can you feel the thrill of my legs as i listen. >> yeah. i can. >> this is a wonderful, wonderful, wonderful day. look, mike is right in the sense that private equity is an important part of the system. leverage buy outs are a part
of the process. but what they aren't is not traditional american style capitalist and this is a problem for mitt romney. >> what does that mean? >> what he knows how to do is go in and buy a company and load it up with debt and sell it off and americans believe in building things and taking risks . if you succeed getting the benefit. >> but that is part of capitalism. >> did you hear that description we heard from rick about romney and what he did to companies. >> it is what obama did to our country. loaded it up with debt and ruined it. and the problem with romney campaign in that nevada, i don't think he is defending capitalism enough. he moved ahead of newt. newt at one point 6.1 pill hadion from the feds and newt's lobbying. i don't think there is wrong
with lobby. but defend capitalism more. it is our only hoe. >> another dissatisfied republican. this is awesome. >> i am a democrat, babe. >> and steve, the point is, if the republican is not bringing up capitalism, who will? >> obama will bring up a caracketure of capitalism. mitt romney has to learn to make the case with vigor and truthfulness. >> and coming up next. oil drilling gulf is back to normal why are gas prices so high. the real reason you are getting hit at the pump. coming up next. special edition of special
>> gas prices hitting a record high for this time of year. you might not know the white house approving 66 percent fewer deep drilling permits than before the gulf oil spill. you say these two facts are relate more pain is coming. >> five dollar gas is coming. u.s. futures are pointing to rising gas prices and also opec saying we do want high oil prices to sustain our economies . this is coming at a time when cuba and mexico and bahamas and russia and canada are
doing off shore drilling. we in the united states are instead subsidizing the failed solyndra's of the world that are politically connected. this is the way we have to go, opening up for drilling. >> all of neighbors are doing it why shouldn't we pump like crazy? >> let's take two parts television. can you blame the government for maybe taking its time after the worst environmental disaster in our country which was the gulf oil spill. putting that aside. we could increase drilling in the gulf 10-fold and we would not be producing enough oil to make a dent on gas prices. >> really in >> and if we did, opec would step in and bring down their production to keep control of the pricing. unfortunately when we produce more oil it does support have an impact. >> hold on.
there is a lot of evidence that said the opposite and that's why there are things in the country where the gas is cheap special other part it is expensive. it defends. >> the obama administration was found in contempt of court by a federal judge for not lifting the moratorum of gas production. it sat on approval for 100 permits and destroying the business and on top of that look at the oil from the key stone pipe line. it is attacking at the gulf and north at both ends. > is there less drilling and high gas prices. >> another factor and i will say it. too much money printing by the federal reserve. and terms of the permits now, it would take two or three years to get the benefit f.
this guy would have done it years ago. prices would be lower despite ben bernanke. >> what about the connection between much less drilling. >> anyone who doubts that there is a good affect on oil prices are looking at nat gas. supply is up. and remember priteses go ahead of the supply chain. we know more oil is coming on line the prices will moderate. >> emac. are prices immune to supply and demand. >> no, they are affected by supply forces absolutely . here's the deal. people forget most of the oil in the world is government controlled. state owned companies control 70 to 80 percent of the oil supplis and they are taking that money to subsidize failing economis and not funneling it back in oil
production. it is lag nothing venezuela and iran because they are not doing the right thing. >> it is hard to argue number with emac. >> it is hard. she made an argument for why prices are staying up anyway even if we do issue more license. steve wants more license during the oil spill. how does that make sense? >> hold on, he asked a question. >> it makes sense because you look at it one by one instead of a blanket one size fits all. if you have a stable dollar and more production. it creates more production. >> and the bp oil spill; is it really all that bad. aren't we recovering? yes we are. >> the problem with the federal judge the obama ruling
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history shows as january goes for stocks, here goes the year. emac, what is sfax? >> it is a federated strastedgic value . half of the return since the 40s comes from dividend stocks. i like this one. expensive in the front end. but even on the back. >> you can invest $50,000 and it cost you five and half. i like